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Private Sector in Copper Projects

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said the new policies pursued by the organization encourage the presence of the private sector in new development projects of the copper industry, reported Fooladnews. Mehdi Karbasian, who is also the chairman of board of directors at the Iranian National Copper Industries Company, said the projects would go to companies with good financial and technical capabilities. According to Karbasian, IMIDRO has completed several key projects since last year, the majority of which have been financed by the private sector. Based on new policies, IMIDRO will make it possible for private investors to hold as much as 65% of copper projects’ shares, while the state-run Iranian National Copper Industries Company can have a 35% share only.